Vendor Scheduling is a process where the raw material required is communicated to the firm’s suppliers for an agreed period of time. This is done through rigorous planning which also considers the demand forecasts and shipping schedules which consider only the confirmed demand from the customers.
The data is gathered from several internal verticals such as the purchasing department and forecasts as predicted by the planning department. A supplier scheduling system is a contract where the business will provide schedules instead of hard copies of the purchase orders.
Vendor scheduling includes the following tasks:
- Defining vendor schedule
- creating vendor schedule
- Updating vendor schedule
- Releasing vendor schedule
- Printing vendor schedule
The schedule can vary from weeks to months for a specified financial year.
Benefits of Vendor Scheduling
- Helps to provide accurate shipping information to your vendor
- Allows you to identify both short and long-term requirements for purchased items and allows vendors to plan their manufacturing and shipping schedules.
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